News

Diamcor Mining Inc. announcing the results of the latest tender and sale yesterday, said the Company had sold a total of 2,606.50 carats of rough diamonds for gross proceeds of US$ 726,588; thus realising an average price of US$ 278.76 per carat.

This parcel comprised rough diamonds recovered, the Company explained, “as part of initial resumed processing exercises performed following the recent screening modifications at the Company’s Krone-Endora at Venetia Project (the Project)”.

Included in the parcel were three individual gem quality diamonds in the special (+10.8 carats) category including one high quality 18.44 carat gem octahedron; and two gem quality diamonds weighing 18.57 and 14.70 carats respectively.

“These special diamonds sold for gross proceeds of US$ 195,810, or US$ 3786.70 per carat,” the Company added. “Net of these special category rough diamonds, the balance of the rough diamonds tendered and sold achieved an average price of US$ 207.76 per carat.”

Diamcor CEO, Mr. Dean Taylor commented: “We are very pleased with the results of this tender, and while the recoveries in the special category point to the Project’s potential, the average dollar per carat achieved before and after the inclusion of specials, is also very encouraging. Our current efforts at the Project are focused on increasing processing volumes and enhancing operating efficiency and consistency.”